Exhibit 7.1
-Refer to Exhibit 7.1 which shows the total product and marginal product produced by a firm.After seven workers,_____
A) marginal product is rising and total product increases by increasing amounts.
B) marginal product is falling but still positive, and total product increases by decreasing amounts.
C) marginal product equals zero and total product is at a maximum.
D) marginal product is negative and total product is falling.
E) marginal product is negative and total product is rising.
Correct Answer:
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Q95: Table 7.5 Q96: A variable cost is one that changes Q97: Fixed costs are defined as _ Q98: Marginal cost eventually increases as output increases Q99: Table 7.5 Q101: Table 7.6 Q102: Table 7.6 Q103: A firm produces 5000 waterproof cellphone cases,which Q104: Table 7.6 Q105: A firm produces 5000 waterproof cellphone cases,which Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)the total